Today’s episode is part one of a four-part conversation with Kristin Gerst. Kristin Gerst is the Managing Director at Capricorn Mortgage Investments. Capricorn Mortgage Investments buys high-interest rate mortgages from small business owners and companies and sells them to large institutional buyers.

Let’s jump right in and learn from Kristin’s story about how to do owner financing and how you can be a better business owner.

[00:01 – 07:06] Opening Segment

• Kristin shares her struggles with not being happy with her life
• • Went from millionaire on paper to penniless

• Kristin talked about when she started owner financing
• • A couple of years later, started teaching people through her experience

• Kristin explains what wraparound mortgage is
• • Why we do wraparound mortgage
  • Earn money with the money you’ve borrowed

[07:07 – 19:05] Owner Financing

• What is owner financing?
• • Kristin talks about the COVID-19 situation

• Kristin talks about the PPP loans
• Dropping of prices will be the only way to clear the market
• • This will lead to owner financing

• Kristin talks about her wraparound mortgage transactions
• Don’t use land trusts
• The effect of the COVID-19 on the market is an investor’s dream come true

[19:06 – 25:15] Closing Segment

• When doing deals, don’t set somebody up for failure.
• • Model yourself after the banks

• Kristin gives advice for when doing a deal
  • Kristin believes potential clients won’t assume you’re a savvy professional and may find you more approachable.
• • The key is to have awful handwriting
  • Flat fee listing
  • One to four family residential contract

Tweetable Quotes:

“The reason why you don’t use a land trust is because it really screws over the homeowner.” – Kristin Gerst

“I wanna make sure that I’m not setting somebody up for failure.” – Kristin Gerst

Resources Mentioned:

• Paycheck Protection Program (PPP loan)
• Due-on-Sale Clause
• Land Trust
• Flat fee listing
• One to Four Family Residential Contract

You can connect with Kristin on LinkedIn and Facebook. Learn more about mortgages by visiting their website at https://capricornmortgageinvestments.com/.

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